The Federal Reserve is not a credit reporting agency. This also implies the correct answer is D.
The Federal Reserve is the America central bank while a credit reporting agency refers to a business that keeps individuals or businesses credit information. The top credit reporting agencies include Equifax, Transunion, and Experian
Further Explanation
Federal Reserve is considered the most powerful sector in the US; it is a major player in controls of the world money.
The Federal Reserve is comprised of two components, which include
- The board of governors
- The federal open market committee
The functions performed by the board of governors include
- It sets reserve requirement for banks
- It has a total of 7 members
- It controls monetary policy
- It sets the discount rate
The federal open market committee performs the following functions:
- It controls the operation of the open market
- It set the target for fed fund rate
In General, the Federal Reserve System has some core functions and these include:
- It controls the affairs of the banking
- It manages inflation
However, some of the functions of credit reporting agencies include:
- Maintaining credit information
- They give credit report
- They also calculate credit scores.
The three largest credit reporting agencies include
- Equifax
- Transunion
- Experian
LEARN MORE:
- credit scores https://brainly.com/question/1297234
- credit reporting agencies https://brainly.com/question/5637468
KEYWORDS:
- credit scores
- agencies
- federal reserves
- banks
- united states
